Thursday, May 15, 2008

Chinese Mobile Ad Exchange CASEE Receives $6 Million In Funding

Chinese mobile advertising firm CASEE has received $6 million from London mobile marketing company Velti, which takes a 33 percent stake in the start up. Velti also has warrants for a further 17 percent, which would increase its stake to 50 percent for an extra investment of $3 million.

CASEE runs an online mobile advertising exchange at which resemble Admob business model in which advertisers can bid for ad space, and WAP site operators can offer inventory. The two-year old company reports that it serves over 500 million ads a month on 3,000 WAP sites in China.

A big congrats to Xin Ye, a good friend of mine who is the founder of Casee. All the best to him and his team at Casee.

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